Arrowstreet Capital Limited Partnership Makes New $9.31 Million Investment in Resideo Technologies, Inc. $REZI

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 422,205 shares of the company’s stock, valued at approximately $9,314,000. Arrowstreet Capital Limited Partnership owned 0.28% of Resideo Technologies as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its stake in Resideo Technologies by 60.1% during the 2nd quarter. Fisher Asset Management LLC now owns 1,046,322 shares of the company’s stock worth $23,082,000 after buying an additional 392,773 shares during the period. Norges Bank purchased a new position in Resideo Technologies in the 2nd quarter valued at about $40,374,000. Hsbc Holdings PLC grew its stake in shares of Resideo Technologies by 99.5% during the second quarter. Hsbc Holdings PLC now owns 46,633 shares of the company’s stock valued at $1,034,000 after acquiring an additional 23,261 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Resideo Technologies by 108.3% during the second quarter. Russell Investments Group Ltd. now owns 140,886 shares of the company’s stock worth $3,108,000 after acquiring an additional 73,261 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Resideo Technologies by 12.8% in the second quarter. Prudential Financial Inc. now owns 2,860,731 shares of the company’s stock worth $63,108,000 after acquiring an additional 325,410 shares in the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Resideo Technologies Stock Down 0.7%

Shares of NYSE:REZI opened at $33.50 on Wednesday. The company’s fifty day moving average is $37.34 and its two-hundred day moving average is $31.52. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.07 and a current ratio of 1.88. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $45.29. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -7.16 and a beta of 1.74.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.18. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS and its Q4 2025 guidance at 0.420-0.520 EPS. Equities analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Insider Activity at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 566,758 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $31.82 per share, with a total value of $18,034,239.56. Following the acquisition, the insider owned 14,960,492 shares in the company, valued at approximately $476,042,855.44. This trade represents a 3.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew C. Teich acquired 8,149 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $30.68 per share, with a total value of $250,011.32. Following the completion of the purchase, the director owned 340,621 shares in the company, valued at $10,450,252.28. The trade was a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 1,697,907 shares of company stock worth $53,222,621. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Oppenheimer upped their price target on shares of Resideo Technologies from $35.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Morgan Stanley upgraded shares of Resideo Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, Zacks Research downgraded shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Resideo Technologies has an average rating of “Hold” and a consensus price target of $34.67.

Resideo Technologies Company Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.